Gold price up on mild demand, silver recovers

Gold price moved up further at the domestic bullion market today on mild local buying interest. Silver recovered smartly on good speculative buying amid good industrial offtake.

Standard gold of 99.5 per cent purity added Rs 15 to close at Rs 29,350 per 10 gm from last Saturday's closing level of Rs 29,335.

Pure gold of 99.9 per cent purity also gained by Rs 20 per 10 gm to conclude at Rs 29,485 per 10 gm from Rs 29,465

previously.

Silver ready (.999 fineness) surged Rs 325 to finish at Rs 55,425 per kg from Rs 55,100 last weekend.

In overseas, gold recouped some of last week losses amid lower dollar as well as Britain's downgrading by Moody's credit rating, though investors were cautious ahead of Fed Chairman Ben Bernanke's testimony to Congress later this week.

In Europe, spot gold bid higher at USD 1,592 in early trade, while spot silver bid up at USD 29.14 an ounce.

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